Lee Cooperman Acquires More Ocwen Financial ~ market folly

Thursday, January 25, 2018

Lee Cooperman Acquires More Ocwen Financial

Lee Cooperman of Omega Advisors has filed a Form 4 with the SEC regarding shares of Ocwen Financial (OCN).  Per the filing, Cooperman's most recent activity was buying shares of OCN on January 22nd and 23rd at $3.1582.  In total across various vehicles, he purchased 494,459 shares. 

In an additional 13G filed with the SEC, Cooperman disclosed he now owns 10.5289% of the company with over 14.04 million shares.  Omega previously only owned 8.66 million OCN shares as of the end of the third quarter in 2017.

Per Yahoo Finance, Ocwen Financial is "a financial services holding company, engages in the servicing and origination of mortgage loans in the United States. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate. This segment's residential servicing portfolio includes conventional, government insured, and non-agency loans. The company's Lending segment originates and purchases conventional and government-insured residential forward and reverse mortgage loans primarily through its correspondent lending arrangements, broker relationships, and directly with mortgage customers. The company also provides short-term inventory-secured loans to independent used car dealers to finance their inventory. Ocwen Financial Corporation was founded in 1988 and is headquartered in West Palm Beach, Florida."

blog comments powered by Disqus